ADMA Biologics falls on equity raise to fund immune deficiency treatments
16/05/2019 17:19
** ADMA Biologics Inc ADMA.O down 7% to $4.14 as co looks
to raise equity
** Plasma-based therapy developer launches $45 mln follow-on
to support commercial launch of asceniv anticipated during H2
2019, for commercial re-launch of bivigam, among other uses
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** Jefferies acting as sole-bookrunner for offering, which
is slated to price Thurs AMC
** ADMA says certain existing stockholders, including
insiders, have indicated interest in buying offering shares.
Filing https://www.sec.gov/Archives/edgar/data/1368514/000119380519000492/e618462_424b5-adma.htm
** At stock's current level, offering would represent ~25%
of co's outstanding shares and ~40% of free float, per Refinitiv
data
** ADMA rallied early last month, including 24% surge on Apr
2, after FDA granted U.S. license for asceniv urn:newsml:reuters.com:*:nL3N21L2XZ
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** Even with today's fall, stock up 73% YTD
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